The European Commission Selects Compellio for the 1st EU Blockchain Regulatory Sandbox
Compellio’s collaborative project with Uni Systems* has been selected by the European Commission in the first 20 use cases of the EU Blockchain Regulatory Sandbox, with the aim to bring blockchain technologies closer to businesses, public administrations, and citizens of the European Union.
The EU Blockchain Regulatory Sandbox offers a controlled and secure environment where companies can test their products and services, in collaboration with the relevant regulatory and legislative authorities, to shape best practices and accelerate the adoption of blockchain technologies in the EU. From 2023 to 2026, the Sandbox will support 20 projects per year, including public sector projects that leverage the European Blockchain Services Infrastructure (EBSI).
As part of the Sandbox, Compellio in collaboration with Uni Systems will work on the development of technological and regulatory innovations related to Digital Product Passports (DPP).
Why Digital Product Passports?
Digital Product Passports (DPP) are an important element of the EU digital strategy towards the advancement of sustainable and circular supply chains. DPPs act as a bridge between the physical and the digital world, facilitating access to product information from businesses (B2B) and consumers (B2C).
Compellio has developed a new multi-sector DPP solution that combines blockchain, verifiable credentials, and decentralized identity technologies to deliver enhanced levels of accountability and transparency within complex supply chains.
Initially focusing on circular supply chains within the construction sector, and as a member of the Product Circularity Data Sheets Initiative, Compellio has leveraged its patented technology to implement a novel solution that effectively addresses critical privacy, scalability, and interoperability requirements.
With the support of the EU Blockchain Sandbox, Compellio in collaboration with Uni Systems will deliver the following advantages to private and public organisations:
- Easier integration of blockchain technologies with existing IT systems.
- Simpler verifiability of data and process workflows.
- Stronger risk controls related to third-party disclosures.
- Streamlined compliance with EU standards and regulations.
At the same time, the legal and regulatory frameworks for the wider use of digital passports in the following areas will be examined:
- Manufacturing: Electronics, batteries, textiles, raw materials, building materials.
- Agri-food: Geographical indications and quality systems, organic products, electronic labels for alcoholic beverages.
- Energy: Certification of origin, smart meters, flexibility services, electric vehicle networks.
- Culture: Identification of cultural goods and their safe circulation, management of intellectual property, management of digital records and archives.
Join Compellio’s DPP Early Adopters here.
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* About Uni Systems
Uni Systems, member of Quest Group of Companies, is a long-standing strategic ICT partner to financial institutions, public organizations, telecom operators and enterprises in the European region and has been providing integrated solutions and value-added services since 1964. Today, the Company invests substantially in its European perspective and demonstrates a proven track record of accomplishments in complex and mission critical IT projects in more than 20 countries through its subsidiaries in Belgium, Romania, Luxembourg, Italy, and Spain.
Image Credits: Photo by Anni Roenkae
